UK's credit rating downgraded
Britain's credit rating has been downgraded from the top AAA rating to AA1 by the Moody's credit rating agency.
Moody's UK credit downgrade is a 'disappointment'
After Britain's AAA credit rating was downgraded by Moody's, The Exchequer Secretary to the Treasury, David Gauke said it was "a disappointment that we are in this position".
But he added: "We really cannot ignore the fact that our deficit is high, higher than we would like and we are determined to focus on that and the response which is just to borrow more is reckless".
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Credit rating downgrade is a big blow for Osborne
The decision by the ratings agency Moody's to downgrade the UK's AAA credit rating, is unwelcome news for the Government.
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What are credit ratings and why do they matter?
Britain's loss of its triple-A credit rating is grim news for the Chancellor. But why does the marginal downgrading carry such a high price?
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Has credit blow downgraded Chancellor's reputation?
George Osborne had set great store by Britain's triple-A badge. But is the loss of the rating a loss of confidence in his policies?